Bloomberg reported Bernard Madoff victims asked to be excluded from JPMorgan Chase & Co. (JPM)’s $543 million settlement of lawsuits over the fraud so they can sue the bank on their own.
Bloomberg reported that LightSquared received bankruptcy court approval to go forward with a new plan, which would include a $2.5 billion exit loan and at least $1.25 billion in new equity contributions. The plan was supported by Fortress Investment Group, JPMorgan Chase and Melody Capital Advisors.
Bloomberg said Energy Future Holdings is close to obtaining a loan of more than $3 billion ahead of a bankruptcy filing that may come this month, according to Bloomberg .
Reuters reported that JPMorgan Chase & Co chairman and CEO Jamie Dimon has given up the title of chairman of the company’s main bank subsidiary to conform with a new internal policy on multiple roles.
Bloomberg reported that Siemens AG is seeking a $3 billion credit line from lenders. The five-year loan is being arranged by Commerzbank AG, Deutsche Bank AG and JPMorgan Chase & Co.